Sony Pictures Entertainment is laying off hundreds of employees across its film studio, TV studios and corporate, as CEO Ravi Ahuja refocuses the entertainment company on certain core growth areas while pulling back in other places.
A source describes the move as being about strategy, not cost-cutting.
SPE, of course, is unique among the major Hollywood studios in that it has focused on creating original film and TV projects and selling them to networks and streamers, rather than trying to own a major streaming platform itself (Sony does own the anime platform Crunchyroll). SPE is said to be doubling down on that strategy, while leaning into its strength in anime and its sister company Playstation, with video game-based intellectual property still somewhat underutilized.
The company plans to expand its game show business (SPE produces Jeopardy! and Wheel of Fortune, among other formats), develop more content on free
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